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| The strongest positive of a LTD company is that personal assets are covered as bankruptcy can be declared if the business fails. |
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| These disadvantages are minimal and effect each studio member very little, we have agreed to use an accountant to arrange all finances. |
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| With a Partnership, I am at risk of negative business decisions made by other partners as well as being personally liable. |
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| A LLP is more of an attractive prospect as liability is with the company. |
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| Limited Company offer the best tax advantages, liability is with the business and the possibility of buying a member out if they wish is possible. |
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| Irrelevant in this context however something to consider if I consider setting up alone. I don't like the idea of personal liability and the unattractiveness to clients. |
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| A limited company is the most suitable and beneficial legal structure. |
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